Syndax Pharma gains as systemic disorder therapy succeeds in late-stage study

Syndax Pharmaceuticals

24/07/2023 13:01

** Shares of Syndax Pharmaceuticals  SNDX.O  rise ~17% to
$24.75 before the bell 
    ** Co, partner Incyte Corp  INCY.O  say their experimental
therapy, axatilimab, met main goal in a late-stage study 
    ** INCY shares also up 1.3% at $65 in premarket trading 
    ** Companies were testing it as a treatment for a systemic
disorder, chronic graft-versus-host disease, in adult and
pediatric patients who have received two or more prior lines of
therapy 
     ** A graft versus host disease occurs when donated stem
cells, or the graft, see the healthy tissues in the patient's
body, or the host, as foreign and attack them
    ** INCY, SNDX plan to submit data as part of their marketing
application to the U.S. Food and Drug Administration by year-end
    ** As of last close, SNDX was down ~16% and INCY had fallen
~20% YTD 

 (Reporting by Bhanvi Satija in Bengaluru)
 ((Bhanvi.Satija@thomsonreuters.com; Outside U.S. +91
9873062788;))